Corporate Action4 Aug 2026, 04:24 pm
Manaksia Coated Metals: 20 Lakh Share Warrants Lapse, ₹3.25 Cr Forfeited
AI Summary
Manaksia Coated Metals & Industries Limited announced the lapse of 20,00,000 share warrants issued on January 31, 2025, to AIO Growth Capital Fund SPC. The lapse occurred due to the warrant holder's failure to remit the remaining 75% subscription amount within the stipulated 18-month period. Consequently, the initial application money of ₹3,25,00,000 (25% of the total subscription) has been forfeited as per the terms of issue. This forfeiture will not impact the company's issued, subscribed, or paid-up equity share capital, as no shares were allotted against these warrants.
Key Highlights
- 20 lakh share warrants lapsed due to non-payment of balance subscription.
- ₹3.25 crore application money forfeited by the company.
- No change in issued equity share capital expected.
- Lapse is in accordance with warrant issue terms and conditions.
Price Impact
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